Trends in the consumption and supply of molybdenum and vanadium ? Summary

Traditionally, molybdenum and vanadium have been used chiefly as alloy metals in steel. They impart similar characteristics to most steels, and to some extent one can be substituted for the other. In the United States during the 1950's the production of steel increased about 5 percent, and the reported consumption of both of these alloy metals in steel increased some 40 percent. In Europe during the 1950's the production of steel in¬creased nearly 100 percent. Data on the actual consumption of these alloy metals in European steels are not available, but production and trade records show that the European supplies of molybdenum increased about 150 percent and those of vanadium about 350 percent during the 1950's. If most of the molybdenum supplies in Europe are being added to steel, as seems likely, then the European steel industry has nearly caught up with the United State in the rate of consumption of molybdenum in steel. The vanadium supplies, on the other hand, are puzzling--unless Europe is adding mach more vanadium to steel than is done in the United States, it seems reasonable to assume that other uses are consuming moderately large quantities of this metal or that appreciable amounts of it are being transshipped from Europe. To the extent that a changing volume of supply signifies a changing pattern of use, the increased demand for molybdenum and vanadium in Europe should be of interest to domestic producers and consumers of these metals.